Just over a month after Gurnee began accepting applications for its Small Business Capital Grant program, it has already approved 17 qualified applicants to receive grants, according to Gurnee village management analyst Jodi Luka.
The applicants include seven restaurants, nine retail establishments and one amusement business. Luka discussed the applicants and how much of a grant they have been approved for at Monday’s Village Board meeting.
The village approved $250,000 in funding for the program earlier this year, and the program will continue until the funds have been exhausted, according to the village’s website. Approved businesses will receive up to $10,000, and have 18 months to complete their projects once they have been approved.
As of the meeting, the village had so far allocated $124,538.70 in grant funding as part of the program.
More Top Picks Best Noise Canceling Headphones For Classrooms
Nine of the projects have already been completed, as the program allowed businesses to apply for funding for projects that were undertaken dating back to Jan. 1, 2020. Most of the completed projects consisted of interior construction and improvements, while Backyard Steak Pit received $10,000 for parking lot reconstruction, and Heatherridge Umbrella Association received more than $5,000 for a sign.
There are three projects currently in progress — two businesses, Fake Meats and Top Shelf Ice Arena, have received grant funding for interior construction; while Wright Executive Suites received funding for Americans with Disabilities Act and electrical improvements.
There are five additional projects that have been approved, but have not started.
“These are projects that are able to be completed because of the grant,” Luka said. “These were projects and scopes that they were hoping to accomplish, but some of them were completely unable to do that until they saw the announcement of the grant program.”
All of the funding from the grant program has to go toward capital projects, or projects that enhance or improve the building or area that the business is located in. According to the village’s website, the intent of the program is to fund improvements or repairs that will remain with the property, even if a business moves.
The village is continuing to accept applications from small businesses, and is getting in contact with businesses that might have projects that are applicable for funding under the program.
Gurnee Mayor Tom Hood said that he’s appreciative that the village is reaching out to businesses to let them know that these grants are available.
“I really like reaching out,” Hood said. “It seems unusual, but in other towns you’re hearing that programs like this just aren’t used, or they’re vastly underused. I think that by pursuing businesses, they’re busy, they’re making money and they’re not expecting the village to be handing out money, and they’re not looking for it.”
Village Administrator Patrick Muetz said that there will be another update on how the program is going in approximately two months.